Weird " finance charges" in monthy statement

[Umeshkrish]

I have been charged 820 rs as "finance charges debit" and gst rs 147. Total amounting to 967rs.
I have never kept any outstanding amount and paid full amount on credit statement.
When I called cc, he didn't gave me clear cut reason for charges and I requested for reversal of charges. But the request for declined... Dono what to do now.

 

[Umeshkrish]

This is crazy. Why were you still charged (25k) if the dispute was settled in your favour?

Yes it was closed in my favor... Still they are charging me. 😔

 

[CardSeeker]

they charged overlimit fees ?

 

[Umeshkrish]

they charged overlimit fees ?

No i didn't went above 40% of my limit during that month..

 

[vaibhav111vaibhav111 is verified member.]

🤢😡 sbi does what sbi want, this is so wrong

 

[SiddharthR]

A nice surprise by SBI which I noticed today!!😥



Payment due date : 22-04,
Payment settlement: 23-04
Got charged first time in last 5 yrs, it wasn't reported in CIBIL though, any way to get it back?

 

[pprakash11]

View attachment 16414

Payment due date : 22-04,
Payment settlement: 23-04
Got charged first time in last 5 yrs, it wasn't reported in CIBIL though, any way to get it back?

I was telling you. Don't ever believe in SBI Cards.
They charge abnormally🥲🥲

 

[VISHESH_BANSAL]

A nice surprise by SBI which I noticed today!!😥

View attachment 16414

Payment due date : 22-04,
Payment settlement: 23-04
Got charged first time in last 5 yrs, it wasn't reported in CIBIL though, any way to get it back?

Mode of Payment ?

Except NEFT Payments , all Payments are reflected instantly.

Get complaint number from SBI and raise it with RBI BO and mention about 3 Grace days and attach statement PDF and Screeshot of Charges.

Ask RBI BO to take action against SBI for breaking RBI guidelines.

 

[SiddharthR]

Mode of Payment ?

Except NEFT Payments , all Payments are reflected instantly.

Via Paytm, 22nd APR @9:49pm

This is what Paytm FAQs say,

 

[VISHESH_BANSAL]

Via Paytm, 22nd APR @9:49pm

You must received Payment SMS from SBI.
Last time when I Did SBI payment using paytm, Paytm used "VISA MONEY Transfer" and this Payment mode at least take one complete day to get settled even if it is reflected instantly but vaiue date of txn remains same as of Payment date.

Get a Complaint number from SBI and Raise the matter with RBI directly with proper Facts.

Since SBI breaks RBI guidelines, SBI will definetly get a stroke of RBI's Bamboo in its ****** and you can ask for Compensation also.

 

[SiddharthR]

You must received Payment SMS from SBI.
Last time when I Did SBI payment using paytm, Paytm used "VISA MONEY Transfer" and this Payment mode at least take one complete day to get settled even if it is reflected instantly but vaiue date of txn remains same as of Payment date.

Get a Complaint number from SBI and Raise the matter with RBI directly with proper Facts.

Since SBI breaks RBI guidelines, SBI will definetly get a stroke of RBI Bamboo in its ****** and you can ask for Compensation also.

On Apr 23rd, 7:58pm

We have received payment of Rs. 17520 via Visa Money Transfer and same has been credited to your SBI Card no xxxx on 23-apr-23.You can also use NEFT to pay your SBI Card bill and get credit of funds within 3 banking hrs. Use IFSC code SBIN00CARDS.

 

[VISHESH_BANSAL]

On Apr 23rd, 7:58pm

We have received payment of Rs. 17520 via Visa Money Transfer and same has been credited to your SBI Card no xxxx on 23-apr-23.You can also use NEFT to pay your SBI Card bill and get credit of funds within 3 banking hrs. Use IFSC code SBIN00CARDS.

If , I was in your place, without wasting any time First I get a Complaint Number and SBI response.
If SBI deny for reversing the charges then RBI BO is there to help.us since SBI Breaks the RBI Guidelines and You can proof the same by a proper draft and Relevant screenshot/PDF of last statement in which Payment Credit date is reflecting and Charges are reflecting.

SBI can not escape from this Blunder if you draft your RBI Complaint Properly.

Do not forget to mention compensation Amount in Complaint text and dedicated column available in RBI Complaint Portal

 

[CARDiologist]

Let me share my experience also, Once I also charged payment dishonour fee of Rs.500/- .My due date was 14/9/22 so, I made the payment on 13/9/22.On 14/9/22 they tried to auto debit the amount but, due to insufficient funds they couldn't.So, they charged me rs500.I contacted cs & they said it takes 1-2 days to update the payment even if you got the message from SBICARD that "We have received your payment" even sometimes takes 5 days also so, always pay your dues before 5 days from your due date.They also took a request to reverse the charges but, it got rejected due to my card was new & only 3 months old

 

[SiddharthR]

If , I was in your place, without wasting any time First I get a Complaint Number and SBI response.
If SBI deny for reversing the charges then RBI BO is there to help.us since SBI Breaks the RBI Guidelines and You can proof the same by a proper draft and Relevant screenshot/PDF of last statement in which Payment Credit date is reflecting and Charges are reflecting.

SBI can not escape from this Blunder if you draft your RBI Complaint Properly.

Do not forget to mention compensation Amount in Complaint text and dedicated column available in RBI Complaint Portal

Composing a mail to SBI, & thanks for detailed response.

Edit: Done, waiting for response.

 

[VISHESH_BANSAL]

Let me share my experience also, Once I also charged payment dishonour fee of Rs.500/- .My due date was 14/9/22 so, I made the payment on 13/9/22.On 14/9/22 they tried to auto debit the amount but, due to insufficient funds they couldn't.So, they charged me rs500.I contacted cs & they said it takes 1-2 days to update the payment even if you got the message from SBICARD that "We have received your payment" even sometimes takes 5 days also so, always pay your dues before 5 days from your due date.They also took a request to reverse the charges but, it got rejected due to my card was new & only 3 months old

Your case is different.

If You are doing payment manually then do not opt for Auto Debit.

If you opted Auto Debit then Do not make payment manually, just before due date

Auto Debit systems run differently with different Banks and NBFC

For example in Bajaj, there is cut off date.
If I make the Payment in Advance before that cut off date, then Bajaj systems would not hit Auto Debit Next Month.

If I make payment in advance after that cut off date, then Bajaj systems would 100% hit Auto Debit multiple times till Amount gets deducted , even if payment is received in advance.

That is why Bajaj image is not good because people make Bajaj EMI Payment in advance Via Bajaj App or Website Portal or BBPS on or before the due date but after cut off date due to which Bajaj systems hit Auto Debit multiple times and Bank debit Bounce charges multiple times.

 

[SiddharthR]

A nice surprise by SBI which I noticed today!!😥

View attachment 16414

Payment due date : 22-04,
Payment settlement: 23-04
Got charged first time in last 5 yrs, it wasn't reported in CIBIL though, any way to get it back?

Paytm asking to share credit card statement with it's password to get refund of late fees as they provide late fees protection.
Is it safe to share this?
@VISHESH_BANSAL

 

[pprakash11]

Paytm asking to share credit card statement with it's password to get refund of late fees as they provide late fees protection.
Is it safe to share this?
@VISHESH_BANSAL

Mask important information and then share.
Usually paytm affair is safe. They do the needful.

 

[VISHESH_BANSAL]

Paytm asking to share credit card statement with it's password to get refund of late fees as they provide late fees protection.
Is it safe to share this?
@VISHESH_BANSAL

Password Protected Statement share karne m kya problem hai ?

except txn details, Paytm already have your data if you are a full kyc user .

 

[VISHESH_BANSAL]

Paytm asking to share credit card statement with it's password to get refund of late fees as they provide late fees protection.
Is it safe to share this?
@VISHESH_BANSAL

Phle Paytm se refund le lo.
Phir SBI se Refund nikalwa lo

Nysh😂

 

[SiddharthR]

Phle Paytm se refund le lo.
Phir SBI se Refund nikalwa lo

Nysh😂

Paytm is now messaging this:
"Hi, We would like to inform you that as i checked the statement late fees not mention clearly."

But it is like this in my statement:

 

[VISHESH_BANSAL]

Paytm is now messaging this:
"Hi, We would like to inform you that as i checked the statement late fees not mention clearly."

But it is like this in my statement:
View attachment 16734

Ninja Technique to avoid Refund.

Ask them
1.
What do you mean by Finance charges and Deferred Finance charges w.r.t. to Credit Cards?
Explain .

2.
Differntiate between Finance charges, Deferred Finance charges and Late Payment fees w.r.t credit cards